Bank Austria with new planning tool for Austrian local authorities:
New "Expanded Budget Check" improves municipal finance planning
For various reasons, an increasing number of local authorities are outsourcing municipal companies and projects into separate businesses. This means that neither the revenues and expenses of day-to-day business nor the investments and liabilities of the outsourced municipal companies appear in the budget of the local authority. Consequently, this can create a distorted picture of the real economic situation in the given municipality. With a view to offering some form of optimal, municipal financial planning under such complex conditions, Bank Austria – together with KDZ – Centre for Administrative Research – has extended the already broad range of planning tools for local authorities in Austria with the new "Expanded Budget Check" tool. This new tool was recently presented to representatives of Austrian local authorities during the 2011 Municipal Forums, "Complete Financing of Local Authority Budgets – Integrating Investments", in Bruck an der Mur and in Salzburg.
"Using this new and free analysis tool we can now offer local authorities in Austria yet another efficient service relevant for their everyday business. By employing the Budget Check tool, local authorities get a quick and simple yet meaningful overview of their financial position. What makes this tool special is that after entering data giving an outline of the local authority's budget, backed up by some key figures from the outsourced companies, it creates an overview of the extended framework. This means that local authorities have a complete picture of their financial position at their fingertips, which improves financial planning", explained Wolfgang Figl, Head of Public Sector at Bank Austria, talking about the new analysis tool.
In recent years, Bank Austria and KDZ have implemented analysis and planning tools for projects and investments, credit rating and risk assessment, various levies, child care as well as elderly and nursing homes. This planning tool is already deployed by a great number of towns and municipalities. Bank Austria has been supporting the public sector for decades. A special "Public Sector" unit was created in 2005 to handle the needs of this group of customers. With a transaction volume of EUR 12 billion, financing of EUR 8 billion and approximately 3,000 clients, Bank Austria as a universal bank is today the undisputed market leader in this segment among individual institutions.
The "Expanded Budget Check" tool is already available to Bank Austria customers together with all the previous analysis tools at www.praxisplaner.at.
Enquiries: Bank Austria Press Office Austria
Julia Wegenstein, Tel. +43 (0) 50505 - 52854
A reproducible photograph of the local authority forum in Salzburg can be downloaded here. Copies are free.
(From left: Wolfgang Figl, Head of Public Sector at Bank Austria; Heinz Schaden, Mayor of Salzburg; Helmut Mödlhammer, President of Association of Municipalities; Thomas Weninger, General Secretary of Association of Austrian Cities)